Elon Musk loses $74 billion - but is by far still the world's richest man
Elon Musk has lost $74.5 billion in net worth since the year began, but he's still the richest person in the world by a long shot, according to the Bloomberg Billionaires Index.
Shares of Musk's Tesla dropped eight per cent before market close Tuesday after a steady decrease of more than 20 per cent over the past month.
Tesla's market value dropped below $1 trillion for the first time since November 2024.
All given values are in US dollars.
Tesla sales are in an unprecedented slide, and the company's sales dropped 45 per cent last month across Europe despite the popularity of electric vehicles there, according to the European Automobile Manufacturers' Association.
And though Musk is a deeply polarising figure, it's not clear that his politics are playing a major role in Tesla's sales slump.
Growing competition, especially in China, and sinking demand growth in the US are playing a major role in Tesla's slump this year.
Nevertheless, Tesla's stock slide represents a stark change in investors' attitudes from November 2024, right after Donald Trump won the US presidential election.
Musk had never been richer, with his net worth hitting a record $347.8 billion, Bloomberg reported, after a steady rally for Tesla.
Investors believed that Musk's influence in the Trump administration would usher in an era of deregulation that will benefit the company.
Musk, Tesla's largest individual shareholder, was roughly $83 billion richer since Election Day by the end of November.
Musk's alliance with Trump pushed his ventures to the forefront.
Musk is the chief executive of Tesla and SpaceX, as well as the owner of X and the CEO of other ventures, including Neuralink, xAI and the Boring Company.
He now oversees the Department of Government Efficiency (DOGE) and has made a number of controversial job cuts and downsizing in the federal government, including thousands of layoffs across agencies.
Musk's net worth dropped $5.2 billion this past week, according to the latest update to the Bloomberg Billionaire's Index.
He's still the richest person in the world by far.
Keep going to see where Musk and his fellow superrich rank as the top 10 wealthiest people in the world.
Again, all monetary figures are in US dollars.
8. Warren Buffet: $156 billion
Buffet - dubbed the "Oracle of Omaha" - is one of the most successful investors ever.
He has hardly mentioned politics and current events recently - preferring to stay away from anything controversial that might hurt Berkshire's companies - but recently he urged the Trump administration to be responsible with the money he sends it.
"Thank you, Uncle Sam. Someday your nieces and nephews at Berkshire hope to send you even larger payments than we did in 2024. Spend it wisely. Take care of the many who, for no fault of their own, get the short straws in life. They deserve better. And never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part," Buffett wrote, reinforcing some of the Democratic ideals he has long supported.
6. Bill Gates: $166 billion
Microsoft co-founder and philanthropist Bill Gates was once the richest man in the world.
He has donated billions to his Gates Foundation, and is now believed to hold less than a one per cent stake in Microsoft.
5. Larry Ellison: $190 billion
Little-known outside of the tech world compared to many of his billionaire counterparts, Larry Ellison co-founded software company Oracle in 1977.
He remains its chairman and chief technology officer, and owns 40 per cent of the company.
He has seen his wealth surge in recent years as shares in Oracle have increased in value.
4. Bernard Arnault: $192 billion
Bernard Arnault oversees the LVMH empire of 75 fashion, cosmetics and other luxury brands, including Louis Vuitton, Moet, Hennessy and Sephora.
3. Mark Zuckerberg: $232 billion
Meta CEO Mark Zuckerberg founded Facebook in 2004, which grew to be one of the mainstays of the then-burgeoning social media scene.
2. Jeff Bezos: $233 billion
Bezos is the founder of Amazon, which went from a garage setup in Seattle to a global behemoth in everything from shipping to streaming.
Share a tip-off, video or photo with us
